1st Source Q1 net income $29.5M, down 5.4% YoY; dividend raised 6.25% to $0.34

1ST SOURCE CORP

2024-Q1 EPS reported $1.19

Net income $29.46M ($1.19 diluted EPS) vs $31.12M ($1.25) a year ago.
Dividend raised 6.25% to $0.34/share, payable May 15 to holders of record May 6.
Average loans grew $116.21M (1.82%) QoQ; average deposits declined $57.56M.
Net charge-offs of $6.12M (0.38% of avg loans), up from net recoveries prior quarter.
Tax-equivalent NIM 3.54%, up 3 bps QoQ but down 6 bps YoY.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.